Autoliv Electronics Spinoff to be Called Veoneer

February 19, 2018 at 10:04 AM

Autoliv says the new company created when it spins off of its electronics business will be called Veoneer.

The divestiture is expected to be completed in the third quarter of 2018. Veoneer will focus on safety electronics, sensors and software for active safety, advanced driver assistance systems and autonomous driving technologies.

The Swedish company’s remaining Passive Safety business, which includes airbags, seatbelts and steering wheels, will continue to operate under the Autoliv name. Both companies will be based in Stockholm.

Autoliv announced plans for the spin-off last September. The board of directors approved the proposal in December.